Many students of economics and philosophy have been puzzled by whether utility is cardinally or only ordinally measurable, and whether interpersonal comparisons of utility are possible in principle and in practice. This essay attempts to answer these questions, using simple arguments.

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Outline:

(00:15) Abstract

(01:39) Is Utility Ordinal or Cardinal?

(06:26) Does Welfare Economics Need Interpersonal Utility Comparison?

(09:15) The Commonsense Case for Cardinal Utility and Interpersonal Utility Comparisons

(10:51) The Practical Measurement and Interpersonal Comparison of Utilities

(17:06) Concluding Remarks

(18:08) About the Author

The original text contained 6 footnotes which were omitted from this narration.

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Narrated by TYPE III AUDIO.

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